AEA Investors Small Business Private Equity, a strategy within AEA that currently manages $2 billion of invested and committed capital, has closed a continuation fund with $384 million in capital commitments. The continuation fund has acquired a majority interest in Singer Industrial, a distributor of industrial rubber and fluid power products, from AEA Investors Small Business Fund II LP.
The fund is anchored by AEA Small Business Private Equity funds, Apollo S3 and LGT Capital Partners-managed funds and supported by other investors. The investment from the continuation fund marks a strategic move to drive Singer Industrial’s growth and expansion as an industrial rubber and fluid power business, while also driving its M&A strategy. With a national presence, backed by local relationships, Singer Industrial caters to a range of customers across the industrial maintenance, repair and overhaul industry.
Jefferies LLC served as the secondaries adviser on the deal. Kirkland & Ellis LLP provided legal counsel to AEA SBPE. Weil, Gotshal & Manges LLP served as legal counsel for Apollo S3 and LGT CP Funds.